Discounted Rate Mortgages - Cheap Mortgage Deals

This means interest charged on a mortgage is at the variable base rate and applies to the mortgage, less a discount for a set period.

This means the rate and therefore your monthly repayment will go up or down depending on the changes in the variable base rate.

This will remain until the end of the discounted rate period. These type of mortgages tend to lock you into the deal for a minimum limited period and may include a penalty clause if you try to swap products at a later date.